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Nick Clegg: EU uncertainty “would have chilling effect on jobs”

The Lib Dem leader says that years of debate and EU uncertainty puts Britain’s growth in peril.

Days before the UK’s Prime Minister David Cameron is set to give a landmark speech on the European Union, on Friday, Lib Dem leader Nick Clegg warns about the effect of Britain’s uncertain place in Europe.

Mr. Clegg says that uncertainty will have a “chilling effect” on jobs and the overall growth of Britain’s economy. He added that embarking on “an arcane debate that will go on for years and years and years” wouldn’t be wise considering the economic condition of the country.

The Prime Minister’s speech on Friday is set to trigger a five-year countdown to a referendum.

Mr. Clegg said that the coalition had already legislated to offer a referendum if the EU tried to transfer more powers to Brussels.

He said: “All I'm saying is we should be very careful at a time when the British economy is still haltingly recovering from the worst economic shock in a generation to create a very high degree and prolonged period of uncertainty.

“In my view, uncertainty is the enemy of growth and jobs because our priority in this government and our priority in the national duty has got to be to foster growth and jobs.”

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